Compliance Watch

President Joe Biden issued a COVID-19 Action Plan, “Path out of the Pandemic,” which includes an effort to reduce the number of unvaccinated Americans by using regulatory powers and other actions to increase vaccination numbers.

Earlier this year, the Office of Foreign Asset Control posted Guidance on Filing the Annual Report of Blocked Property and emailed a reminder that holders of blocked property under OFAC regulations must provide OFAC a comprehensive list of all blocked property held as of June 30 of the current year by Sept. 30 of each year.

The CFPB has announced that the Filing Instructions Guide for Home Mortgage Disclosure Act data collected in 2022 is now available.

Michigan regulators issued a temporary cease-and-desist order Friday against an alleged fake website of a credit union, a bank, and two other financial institutions.

A 10-digit dialed telephone call requires entering both the three-digit area code and the seven-digit telephone number to complete the call, even if the area code is the same area code as your own.

Question: Do we have to CIP another credit union or bank that wants to open an account?

If you haven’t already done so, please take a moment to complete League InfoSight’s annual survey.

CU PolicyPro is your resource when it comes to staying “current” with the ever-changing regulatory environment.

Question: Can a minor be an owner of an LLC? Answer: Yes. While this arrangement may pose interesting liability and ownership issues for the other members of the LLC, especially if it is member-managed, it is possible for a minor to have an ownership interest in an LLC.

It’s that time of year again, when League InfoSight is looking for YOUR feedback on InfoSight products and services.